Ringing Bells, small mobile manufacturer came to light after it launched world’s cheapest smartphone at just $4. The company claimed that number of orders for Freedom 251 has crossed over 7 Crore. The Company’s director said that it will make R.s 31 ($0.45) profit on every Freedom251 device sold.
Ringing Bells Will Make $0.45 Profit on Each Freedom 251 Phone, says Director Mohit Goel
Freedom 251 was launched at the price of R.s 251 ($4) at a high profile event held at New Delhi. This phone got fame in no time, however it also got negative reviews which included copyright infringement, misguiding people, not approved to government, delivery time. Also, BJP’s MP labelled this company as ‘ponzi bogus company scam’.
The Company’s director, Mohit Goel said that it will make Rs 31 profit on every Freedom 251 device. Goel also discussed about how the Ringing Bells has became a victim of different controversies since it launched world’s cheapest smartphone.
Goel also refuted the claims that company is dubious. He has assured that it will start delivering Freedom 251 devices from April 15.
In an interview to TOI, Goel sad “Why am I being hounded? What wrong have I done? Why am I being called a ‘bhagora’ (who’ll run away with the money)? I intend to do a valid business, just like any other startup, and I have a business plan ready,”
“We are taking online bookings for only 25 lakh units in the first batch due to limited supplies, while giving another 25 lakh through offline distributors. I will deliver the handsets before June 30,”
Goel further told TOI that “We are taking online bookings for only 25 lakh units in the first batch due to limited supplies, while giving another 25 lakh through offline distributors. I will deliver the handsets before June 30,”.
“All the money that we receive from customers through the payment gateway will be kept in an escrow account and we will touch it only when we deliver the devices.”
The Company stated it has got over 7 Crore Registrations for Freedom 251 devices through their website.
“We are taking online bookings for only 25 lakh units in the first batch due to limited supplies, while giving another 25 lakh through offline distributors. I will deliver the handsets before June 30. All the money that we receive from customers through the payment gateway will be kept in an escrow account and we will touch it only when we deliver the devices.”
The company is partnering with numerous eCommerce platforms in order to get their apps on the Freedom251 Smartphone which will help the company to make revenue.
Goel further said “We will also monetize from the heavy traffic on our website and will make it into a marketplace for other brands to hop on. This will also help us to bring down the cost,”.
So, this is all about the profit that Ringing Bells is going to make for each Freedom 251 phone. The company has became a victim of different controversies and the truth will come to light only after it starts delivering the devices.
If you loved this article, feel free to share it !
How they will earn profit without sending payment link bro ? :p
Haha Lol ! I am just wondering how can they make R.s 31 profit from it .. Experts claimed that 1GB Ram is available for R.s 300 in market. So, it is still unclear whether they are going to make profit from it or not !